Japan has announced it will grant urgent loans worth around $3 billion for Asian economies to deal with economic crisis, including $150-200 million for Vietnam.

The Japanese government plans to lend Vietnam between $150 and 200 million to support its economic stimulus package.

Nguyen Xuan Tien, vice chief of the Ministry of Planning and Investment’s Foreign Economics Department, confirmed this information with Tuoi Tre Daily.

Tien said that the Japanese government plans to lend Vietnam between $150 and 200 million to support its economic stimulus package.

The two sides are currently negotiating the specific conditions of the loan. The lending agreement will be signed in late 2009. The loan will have the duration of 15 years with a three-year grace period.

According to Tien, another credit agreement with Japan is scheduled to be signed in early 2010 for a programme to cope with climate change in Vietnam.

VietNamNet/Tuoi Tre